Top tips for first time land buyers
Thinking about buying land to build your own home for the first time? The decision to purchase a lot and make your dream home a reality is a big one, but it doesn’t have to be complicated. Our Kinma Valley Sales Consultant, Jamie Martin, talks to us about his top tips for first time land buyers.
If you’ve thought about securing land to build your dream home, but aren’t sure where to start, our Kinma Valley Sales Consultant, Jamie Martin, shares his top tips for first time land buyers.
Seek pre-approval to identify your budget
“Firstly, I would recommend buyers to speak with their bank or mortgage broker to find out what their pre-approved budget is and secondly, always stay within that budget,” Jamie says.
Determining your borrowing capacity allows for parameters around your land search and what you can realistically afford.
Explore available grants and deposit schemes
“There can be generous first home buyers grants and low deposit schemes available from the government to assist buyers to build a new home. In some cases, building a new home can be more cost effective than purchasing an established house,” Jamie says.
Depending on your personal circumstances, these schemes can offer added value or remove some of the barriers of entry to the property market, making it easier to get your foot in the door and bring your dream of owning a home to life.
Do your research
Look online, visit a Lendlease sales and information centre, go to the display centres and learn about what is going on in the real estate market.
The research you will conduct will depend on your reasons for buying land – are you looking to build an investment property or a home to live in? Once you know this, you can research the market, get an idea of which area you want to buy, recent trends in the area, and the type of home you can afford.
Consider your non-negotiables
Make a list of your must-haves and nice-to-haves when it comes to building a house. Your must-haves may be property size, location, parks or schools nearby. Your nice to have’s are the wish list items that aren’t essential, like a certain outdoor space, design or fittings. “Focusing on your must-haves will help you to prioritise what matters most,” Jamie says.
Choose a builder
A common misconception when buying land, particularly within community developments, is that the builders are already assigned to you. At Kinma Valley, you may choose your own builder, or oneof our partner builders. When choosing your builder, you can research their portfolios, processes, inclusions and designs and make the right choice for you.
Make an expression of interest or offer
Once you have determined your budget, borrowing power and found a block that works for you, the next step will be to discuss an offer with the real estate agent or sales team. Many people will engage a conveyancer to assist with the sale and overlook all the documents before signing.
Thinking of buying land to build your dream home at Kinma Valley?
Surrounded by a beautiful natural landscape, with views across to the Glasshouse Mountains and a seamless blend of the built and natural environment, Kinma Valley is a perfect place to call home. Conveniently located with amenities at your doorstep, pristine parks for a relaxed lifestyle, this leafy haven is a place that ensures living well.
Kinma Valley will offer 2,500 lots of land in a range of sizes over a series of releases. Our first ever land release, Hazelwood, has already launched. Find out more here.
You can also register now for more information on our upcoming land releases.